Election coverage

Binders of Women, you say? Hmmmn…

So theres the apparent obsession with Mitt Romney’s use of the phrase Binders full of Women at the debate to describe his somewhat successful efforts to have more women in positions of leadership during his tenure as Governor of Massachusetts. But why? Could it possibly be to distract us from the fact that according to a survey by Credit Donkey, 40% of Americans don’t have $500 in savings right now.

PHILADELPHIA (CBS) — A survey of about 1,100 Americans finds that more than 4-in-10 respondents admit they don’t have more than $500 in readily accessible savings.

The survey is a kind of departure forCreditDonkey.com, a website that compares credit card deals. Not respondents all were poor. Some had big houses, big mortgages or 401(k)s, but still no more than five Benjamins to rub together right now.

Jill Michal, president and CEO of the United Way of Greater Philadelphia and Southern New Jersey, reacts to the lack of liquid assets.

“It doesn’t shock me, but it does scare me. You know, we often say that the reason so many people fall off the edge in a tough economy is that they’re standing way too close to it, and I think this is a perfect demonstration of that.”

Oh. So THAT’s why the left is so obsessed with binders. Keeps the mind clear of scary stuff like Americans living paycheck to paycheck in the Obama economy. Got it.